SOURCE: Latitude Industries, Inc.

October 04, 2010 07:06 ET

Latitude Industries Announces Closing of www.championmarineusa.com Has Been Completed

MIAMI, FL--(Marketwire - October 4, 2010) - Latitude Industries, Inc. (PINKSHEETS: LTDU), a holding company that exists to bring together a conglomerate of companies dedicated to the pursuit of fun and adventure in the outdoors, announced today that the acquisition of www.championmarineusa.com has been completed.

Carolina Hernandez, CEO of Latitude Industries, Inc., said, "We are glad this acquisition is complete and we are now currently seeking other acquisition candidates in the marine and transportation industries. We are also looking to put more products for sale on www.championmarineusa.com website. We are also in the process of creating an internet marketing program to access potential clients to make them aware that this company is available to fulfill any outdoorsman needs."

As this acquisition was finalizing, The Recreational Boating & Fishing Federation (RBFF) released a new research this week that said it will help the boating industry better understand consumer attitudes toward boat purchases. The RBFF's Quantitative Study of Consumer Attitudes, which was announced at IBEX, shows the boating lifestyle is robust, but buying habits have shifted, according to a statement from the group.

"People are going to continue to buy boats, but more cautiously without applying for as much financing," said RBFF President and CEO Frank Peterson. "We hope our boating stakeholders will use this research to help develop their marketing strategies for the coming year."

The Boating Lifestyle

  • Despite the economic downturn, nearly half of all consumers claim they are still in the market for a boat in the next three years.

  • Consumers as a whole are not moving away from boating, but rather are more likely to try and find ways to make boating less costly. For example, they plan on doing more repairs themselves or plan to spend less on accessories for their boat.

  • Three in 10 consumers are considering purchasing a pre-owned boat.

  • The main reason why current boat owners are not in the market for a boat (new or used) is that 66 percent are simply satisfied with their current boat.

The study was conducted by RBFF and BrandSpark International in June 2010 and provides detailed information on 1,885 boat owners and 977 non-boat owners ages 18 to 69. The methodology and full study is available online at RBFF.org.

www.championmarineusa.com is an online store that offers more than 19,000 boat part, accessory and cloth to anglers all over the world, specializing in fast domestic and international shipment to satisfy the most discriminating boaters.

About Latitude Industries
Latitude Industries exists to bring together a conglomerate of companies dedicated to the pursuit of fun and adventure in the outdoors. Its goal is to be the best supplier of power sports and boating-related products to its customers, while providing them with outstanding service and value. We aim to treat all of our customers even better than they expect to be treated so that they regard us as the best in our industry. It is always our priority to achieve superior financial returns for the benefit of our associates, customers and shareholders.

Forward-Looking Statements
Certain statements in this release and the attached corporate profile that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.

Contact Information

  • Contact:
    Latitude Industries, Inc.
    Carolina Hernandez
    President and CEO
    Ph: 305-758-BOAT (2628)